The Mortgage Reports : Featured TypePad Blog

Each morning, I'm here with new blog content for my loyal readers, but it's TypePad's blogging platform that is here for me. I rely on TypePad for its simplicity and reliability. I know but one other blogging company that does as much for its members. And that's why I'm honored (and humbled) that...

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[Source: The Mortgage Reports Blog]

The Media Could Be Spreading Hope For Housing, But Instead It's Selling Fear (Case-Shiller Home Price Index Version)

Look, if you want to highlight the negatives, here it is: Since last year, home prices are down. Duh. But, if you want to look at the positives, take a close look at this chart. It's doctored up a bit, but taken directly from the S&P/Case-Shiller Home Price Index report. April is the second...

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[Source: The Mortgage Reports Blog]

FHA Loans May Get Tougher Soon -- Just Like Conforming Loans Did

There were two news pieces written on FHA home loans today. Separately, they're interesting but uneventful. Together, they could be a harbinger of tougher times ahead for two groups: Home buyers that use FHA financing American taxpayers that fund the FHA The first FHA story was front page in the...

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[Source: The Mortgage Reports Blog]

The 72.73 Percent Probability For Morning Mortgage Rate Quotes

The pace at which mortgage rates change each day is quickening. This pie chart puts it in pictures. In the last 2 months, mortgage rates changed mid-day nearly 75 percent of the time. This means that an offered rate at 9:00 A.M. is likely expired by 4:00 P.M. (and has probably even spoiled by High...

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[Source: The Mortgage Reports Blog]

The Fed Should Get More Precise, Like My KitchenAid Mixer

The chart above doesn't go all the way back, but since 1990, the Fed Funds Rate has moved in quarter-percent increments only. This is a big deal because the Federal Reserve meets next week and there is a bevy of discussion among market players about whether the Fed should raise the Fed Funds Rate...

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[Source: The Mortgage Reports Blog]

Bankrate.com Mortgage Trend Index (June 19, 2008)

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. You're welcome to email me about your pending plans to purchase or refinance. I twitter market updates a few times daily. Follow...

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[Source: The Mortgage Reports Blog]

Using Fed Funds Futures Charts To Explain Mortgage Rate Movement

Never doubt the power of worms words. Mortgage rates had trended higher throughout May, but when Ben Bernanke used the word "inflation" 55 times in a speech June 4, that trend turned into a spike. Rates are much higher now and home buyers are feeling the pain. The chart above is for illustration...

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[Source: The Mortgage Reports Blog]

The Half-Truth Of Borrowing From Your 401(k) Plan For A Downpayment

Americans are tapping their retirement funds at a quickening pace, the Wall Street Journal reports. Comprising of both "hardship withdrawals" and standard 401(k) loans, the retirement fund distributions are serving multiple purposes: Raise immediate cash to avoid home foreclosure Access funds to...

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[Source: The Mortgage Reports Blog]

The Mortgage Approval Triangle, In Pictures

All mortgage approvals are loosely based on what I call the Income-Equity-Credit Triangle. The stronger the elements of the triangle, the more likely a person's qualification for a conforming (or "prime") mortgage. The triangle's three corners are defined as follows: Income: The relative strength...

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[Source: The Mortgage Reports Blog]

The 80/20 Rule Of Foreclosures in America (May 2008)

RealtyTrac's May 2008 foreclosure report looks terrible in the papers, but there's good reasons why we don't get our news from the headlines only. A deeper look at the data shows that the whole country is not being impacted equally. California is home to 8 of the 10 most foreclosure-heavy cities in...

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[Source: The Mortgage Reports Blog]

Bankrate.com Mortgage Trend Index (June 12, 2008)

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. You're welcome to email me about your pending plans to purchase or refinance. I twitter market updates a few times daily. Follow...

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[Source: The Mortgage Reports Blog]

T-Minus 2 Weeks Until The Fed Hikes The Fed Funds Rate?

Members of the Federal Reserve turned up the inflation chatter since late-May and mortgage rates are suffering. Even worse, it's creating a confusion among home buyers because lender pricing is expiring multiple times daily. As a general rule, inflation is bad for mortgage rates because it cause...

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[Source: The Mortgage Reports Blog]

Using Mosaics To Show Why "National Real Estate News" Is Useless

These photos represent six neighborhoods in America and their respective real estate markets. They are six different neighborhoods with six different feels, each with its own character and flavor. Some have dogs, some are blue, some are smiling -- some are young, some are old, some are blurry. Now,...

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[Source: The Mortgage Reports Blog]

Why Even "The Gamblers" Are Asking To Lock Mortgage Rates As Early As Possible

If you look at mortgage rates today and compare them to January's numbers, not much has changed: 30-year fixed: Still hovering near 6 percent 7-year ARM: Still lower than 30-year fixed rates 5-year ARM: Still lower than 7-year ARM rates But on a day-to-day basis, the market is not as smooth as the...

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[Source: The Mortgage Reports Blog]

Bankrate.com Mortgage Trend Index (June 5, 2008)

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. You're welcome to email me about your pending plans to purchase or refinance. I twitter market updates a few times daily. Follow...

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[Source: The Mortgage Reports Blog]

"We Do Not Pull Credit" Is Not A Selling Point, It's A Sales Tactic

This ad plays up a long-standing American fear -- that credit inquiries will drop a person's credit score below a hypothetical mortgage "approval line". It's Fear Selling at its worst, preying on customers that don't know any better to the benefit of the salesman. So, because the best way to combat...

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[Source: The Mortgage Reports Blog]

Why New Construction Condo Mortgage Guidelines Should Be Granted "Special Exceptions"

Fannie Mae's new mortgage guidelines rightfully scrutinize buyers and owners of condominiums. Since late-2007, mortgage markets have a new emphasis on collateral, or the value of the underlying property, and in a condo building, collateral can be wiped out for reasons beyond the borrower's control:...

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[Source: The Mortgage Reports Blog]